When you place a limit order, it has to be executed at the limit price or better.
When you place market order, it has to be executed at any price within the upper and lower limit price.
To avoid buying or selling a stock at a price higher or lower than you wanted, you need to place a limit order rather than a market order. A limit order is an order to buy or sell a security at a specific price. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. When you place a market order, you can't control the price at which your order will be filled. (Source: possibleinvestment.com)
Generally, Market orders are used when a trader definitely want his order to be processed, and are willing to risk by getting return at a slightly different.Limit orders may or may not get executed totally depending upon how the market is going, but if once they do get filled it will always be at the chosen price, or at better price.
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